Bulls Sign Norman Powell to Two-Year $45 Million Deal

The Chicago Bulls have agreed to sign free agent guard Norman Powell to a two-year, $45 million contract, a deal confirmed on Wednesday, July 1, 2026. The move, which includes a team option for the second year, marks the Bulls' most significant acquisition since the free agency period opened.

Powell, 33, is coming off his first All-Star season with the Miami Heat, where he averaged 21.7 points per game while shooting 47 percent from the field and 38 percent from three-point range. His departure from Miami was largely dictated by financial constraints. The Heat became hard-capped at the first salary apron following their blockbuster trade for two-time MVP Giannis Antetokounmpo, severely limiting their ability to match Chicago's offer. Miami could only offer Powell a starting salary of approximately $6.5 million for the upcoming season, a figure far below the Bulls' bid.

The veteran guard joins a Bulls team that is actively retooling its roster. Chicago recently drafted North Carolina standout Caleb Wilson with the fourth overall pick and acquired center Nic Claxton in a trade with the Brooklyn Nets. Team officials reportedly targeted Powell for his proven scoring ability,...